A new bundle of credit and debit card details is being sold online, The Telegraph reported on Monday.
The new batch contains sensitive data of 100,000 Britons, and is apparently being sold on the website Bestvalid.cc. The price on the details seems to be £1.67 per piece.
The interesting thing about this sale is that it's happening in the open – on the open internet, rather than the 'dark web', where all the illegal activities usually take place.
It is unknown how it was possible for such a site to operate in this manner. The Telegraph presumes that it's either 'flown under the radar' or law enforcement agencies across the world have not been able to shut it down.
Sites like this one could be funding terrorism, chairman of the home affairs select committee Keith Vaz said.
"The National Crime Agency must act immediately to get this site closed. I will be writing to the NCA to bring this issue to their attention,” he said.
The Telegraph wanted to check if the information being sold is legitimate. It has bought information from one of the victims and, with her permission, confirmed that the data is valid.
The purchase was made with Bitcoin, a digital currency ‘almost impossible to trace’.
The package included the victim’s debit card number, security code, expiry date, mobile phone number and postal address.
The news is once again stirring discussions on if the police is capable of fighting online fraud or not, which is estimated to cost UK’s economy £27bn annually.